McDonald’s to Quit Iceland After 16 Years

Ronald McDonaldFAST food giant McDonalds will shuts its three Iceland stores next weekend.

Franchise owners have cited falling profits caused by the collapse in the Icelandic krona, as a reason for shutting the three Reykjavik restaurants.

McDonalds, long considered a symbol of globalisation, and is the world’s largest chain of hamburger fast food restaurants according to Bloomberg. It opened in Iceland 16 years ago.

In July, McDonalds announced it would open 36 new Australian restaurants this year (up from the 21 it opened last year) bringing the total number of national outlets to 815.

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McDonalds Ready to Redevelop Prominent Ringwood Site

AFTER picking up a prominent eastern suburb development site at a particularly depressed time in the property cycle last year, fast food chain McDonalds is readying to play property developer.

McDonalds is looking to replace part of a prominent former Patterson Cheney car dealership at 43 – 57 Maroondah Highway in Ringwood, with a 24-hour restaurant.

It paid about $15 million for the massive 16,380 square metre site, near the Maroondah Highway exit of Eastlink, almost a year ago.

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